CIF/FOB Gulf Grain-Corn, soy values firm as barges, terminals full

By Times Of India on 27 Oct 2017 | read

CHICAGO, Oct 26 (Reuters) - Bids for both corn and soybean barges headed to the U.S. Gulf firmed on Thursday due to limited space on vessels headed to export terminals, traders said. * Space also was tight at export terminals, underpinning FOB values for both commodities. * CIF Gulf soybean barges loaded in November traded at 25 cents a bushel over Chicago Board of Trade November futures in line with trades made on Tuesday. * FOB values for hard red winter wheat also were firm due to tight supplies of high protein offerings. * The wheat market was underpinned by the announcement earlier in the week that Brazil's agriculture ministry was looking for approval to import 750,000 tonnes of wheat duty free from outside the Mercosur trade bloc. * October corn barges were bid at 27 cents above the CBOT December futures contract , up 2 cents from Wednesday. FOB corn offers for November loadings were 46 cents over futures. * CIF bids for soybean barges shipped in November were up 2 cents at 23 cents over CBOT November futures . Early November FOB soybean export offers were about 44 cents over futures. * October soft red winter wheat barges were bid 55 cents over CBOT December futures . Spot export premiums were 85 cents over futures. * October CIF hard red winter wheat bids were 195 cents over the K.C. December contract for 12 percent protein grain. Export premiums for spot shipments were about 198 cents over futures, up 3 cents. (Reporting by Julie Ingwersen and Mark Weinraub; Editing by Leslie Adler)